Long-Term Financial Stability

Pension Plan – The Pension Program is designed to help provide security for your future years-when it’s time to retire. It pays a regular monthly income for life in addition to the benefits you receive from Social Security. We believe that the benefits provided by the Pension Program, together with your Social Security benefits and any other plan benefits available to you, including those under the Dover Corporation Retirement Savings Plan (401k), will provide a substantial measure of security in retirement for you and your family.

After one year of service, employees are automatically enrolled in our company funded pension plan and are 100% vested in these funds after 5 years of services.
You must be age 21 and complete one year of Eligibility Service.

Wachovia

401 k Saving Plan –

New employees are eligible for the 401k as of their very first paycheck and may enroll at the beginning of any month afterwards.
Changes to the contribution may be made at any time online at Wachovia or through our Human Resources Department.
We accept rollover funds from qualified plans.
Employees can save as little as 1% of their earnings to as much as 50% (subject to IRS limitations).
Company Matching Funds – Upon enrollment, employees are eligible for both Basic and Year End Match, which has the potential to reach a total match of 80%.
The Basic Match is 40 cents for every $1 you contribute, up to the first 6% of your contributions.
The Company Year-End Match is based on SC&A’s performance for the Plan Year. The year-end match could be 0% to 40%.
Company matching contributions are invested in shares of Dover Corporation common stock.
To help you balance your investments in a mix that is right for you, we off a variety of funds to choose from.
Throughout the year, a financial advisor is brought on premises for training regarding investment in the 401k.

This is a general overview of our benefits for information purposes only and may change as benefit plans change during the plan year or at plan renewal. More specific details regarding benefit coverage are provided during the interview process and new hire orientations.